IREDA Analysis!NSE:IREDA Analysis on a Daily Timeframe!
Triangle Pattern Formation in IREDA!
Triangle Pattern Breakout in IREDA!
Analysis:
As we can see the stock in moving in a triangle since December 2023. It was continuously consolidating in it. On 27th June it tried breaking out the resistance but unable to sustain above the resistance. Today again it has been successfully given the breakout and able to close above the breakout. As i marked all the important levels on the chart please have a look.
Trade Setup:
Entry = Current price level is good to Enter
Key Level = 214.80 This is the All Time High Level, Price may reverse from this level but if it breaks, will the major uptrend
Target = 455.85
Stop Loss = Below 173 or as per your Risk To Reward
Disclaimer = Consider my analysis for Educational Purpose only.
Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4) Don't trade with full capital
Trianglebreak
EPL-Do not miss this consolidation breakout!Essel Propack Ltd(EPL) is sector leader stock among packaging sector and looks like a breakout of triangular consolidation is done.
We can expect a quick move above 240 but today, stock has shown good volumes as well.
This is a relatively slow stock and hence, can test your patience.
But, the risk reward is very good and stock provides a dividend yield of around 2% at CMP.
Positional traders should keep this stock in watchlist.
Multi Year Breakout - SREE LEATHERSPrice is breakout multi year resistance line on November 2023 and now the price came to that level and re-testing the resistance line which turned into support now. Also, it formed Morning star in Weekly Time Frame.
We can invest in this stock for long time for 50% return.
Please like and share if you like this idea.
Chart is Self Explanatory. I am not SEBI registered advisor and all Ideas posted by me are for Educational Purpose.
STYLAM INDUSTRIES - Traingle BreakoutPrice is respecting the trendline from June 2023 and it is now breakout the triangle.
2. First target will be 2000
Please like and share if you like this idea.
Chart is Self Explanatory. I am not SEBI registered advisor and all Ideas posted by me are for Educational Purpose.
GIPCL-A powerful breakout in this power sector stock!An eventful day after market reacted very positively to exit polls.
Today, all PSU stocks and Energy sector stocks were extremely bullish.
One such stock which has given volume breakout is GIPCL.
All momentum swing traders can take a position for quick returns in this stock.
However, risk associated is more as we can see a profit booking in market post results.
A good long term stock as well since it has the name Gujarat in it which makes the adjective "Powerful" for it ;)
Hatsun-One more Agrochem stock on verge of breakoutHatsun agro has given good volume bounce today from trendline. Above 1200, we can see this stock flying.
However, this stock forms long wicks hence it is safe to wait for weekly closing above 1200 for a safe investments.
Keep in radar. Agro stocks normally give big moves before monsoon arrives.
Long Abbott India for target of 26000Abbott trading in a closed triangle pattern on Monthly and weekly charts. It can breakout on either side.
At the lower level of the triangle there is a volume coming in indicating strength currently. Formed hammer on last monthly chart candle.
If it follows then target of 26000 can be seen. Stop loss will be base price of triangle pattern. Note: On closing basis else you may sell at fake breakdown.
This is long term chart not short term so need patience for investing and wait.